we endorse chris foley. you heard the story, reverend brown reached out, found out who redeveloped and restored that st. joseph's church. we've been in communication with him for the last year. we can say that he's very honorable, more than qualified and we fully, fully endorse him. we can also say that just before the bagging of mayor ed lee, one of the main things that he did was made third baptist a historical landmark. we appreciate that. and because of that, chris is planning on helping to restore third baptist to its luster, as it should be. and we thank him for that. also as i'm here today, i would also say that reverend brown would also like to endorse lydia sow as well. thank you so much. >> hello, my name is sarah white. i'm associate director of housing development, with t.n.d.c. i'm here to support lydia sow's nomination. tndc's mission -- we provide tenant and community services, community organizing and property management. we currently own and operate about 43 buildings across san francisco. a

chris foley. your interest and experience and qualifications for this seat. >> thank you, supervisor walton, supervisor mar, supervisor ronen. i was nominated for this because i did the renovation of st. joseph's at 10th and howard. that was a very interesting project. it was actually vacant for 31 years. the building was actually failing. the whole north side of the building had been leaking for over 25 years. and it was collapsing. and in that transaction, what happened was we actually got denied from the national parks service for initial renovation. and we had -- the national parks service, we had to go back to washington, d.c. to re-apply for our rep. and what we had to do, we had to take the bridge, that is connecting the two mezzanines, and make it from 8 feet to 6 feet. and once we did, that the national park service approved our tax credit application for that project. the project itself is a new market tax credit, historic tax credit, transaction in the united states, only six done in th

jane foley, many thanks.iness pages, thank you. stay with us on business live. still to come... as if there wasn't enough going on today already, the chancellor is due to unveil his spending plans later for next year. more brexit funding is expected. but will his sums add up? you're with business live, from bbc news. marks & spencer has been demoted from the ftse100 index of britain's biggest listed companies from today — for the first time in the index's 35—year history. it's been a tough year for the food and fashion giant, with its shares down 40%. helal miah is investment research analyst at the share centre. why has it dropped out? what is it in its performance that means it is just not so big as it was? first of all, i wanted to highlight it was a founding member of the ftse100. it has been a benchmark retailer for founding member of the ftse100. it has been a benchmark retailerfor a long, long time. but what it does reflect is the fact that the uk high street has been in turmoil. more specifically, mar

but here, on foley beach it seems like it might be a little bit stronger. we are in the parking lot of a fishing pier where two years ago, erosion. three years ago, a real beating. it is a combination today of these high winds of hurricane force strength winds even though we are 80 miles from the center of the eye. the winds are strong here mixed with a surge expected to be five to eight feet and rainfall from six to 12 inches of rainfall. we see water running down this street here. it has been evacuated. we haven't seen anybody around here. we haven't seen law enforcement patrolling here. and the power going in and out. it is going to be a long day, but it is high tide and everyone batching. a little bit later this afternoon when that storm surge really is going to determine how strong it is and everybody here hoping that this storm will come close, pass, and move on and leave them alone here. in charlotte, and south carolina. and foley beach, fox news. >>> all right. this is going to be some intense time. this is -- how fast is it moving? that has been th

and i'll be speaking to my guest jane foley about that story and wider brexit developments as well.y warm welcome to the programme, briefing you on all you need to know in global news, business and sport. is your phone secretly listening to you to target adverts? i want to know what your experiences, and does it bother you if it means you can get more releva nt if it means you can get more relevant ads? tell us what you think, just use the hashtag #bbcthebriefing. hello. the eu's chief brexit negotiator, michel barnier, has been reported to have told european diplomats that negotiations with the uk are in a state of paralysis. he's believed to have made the remarks after four—hour talks with borisjohnson's europe adviser david frost in brussels on wednesday. while those talks were going on the prime minister was losing two key votes in parliament. one to stop a no—deal brexit, and the other preventing a snap general election for now. here's our political editor laura kuennsberg. are we through the looking glass now? the prime minister is demanding a new parliament over there, an ele

counter terrorism and she says there is a video of jim foley. she's narrating it. and i can hear her saying they're wearing an orange jump suit. they're holding a knife. and then i just hear her dissolve into tears. and what she's watching on the other end of the phone is the horrific beheading of james foley. >> he had to break the news to the president. >> i had to tell him and say the reason they were doing this was because of a decision he had made. >> a visibly shaken president obama spoke out. >> today the entire world is appalled by the brutal murder of jim foley by the terrorist group isis. jim was taken from us in an act of violence that shocks the conscious of the entire world. >> tragically, there were to be many more bleak moments for the american administration and for american hostages. >> you have a young woman, just waiting for this terrible thing to happen and for it to be broadcast on youtube. >> none of those hostages made it? >> no. we knew. you just had this sense that we were going to lose all of them. so this is about as d

and we knew after foley, the horrific thing is you just had the sense that we were going to lose allbout as dark a time, you know, ass i can remember in my eight years in government. >> but just as isis was at its most powerful and brutal, a small town in syria showed the world how to fight back. join me on the front line as america goes to war against isis, after the break. let's be honest, insurance can feel a little outdated. the paperwork... the calling for everything. the searching for id cards... it's like you're stuck in the 90s. that's why esurance makes it simple with an app that has everything you need because that's how we live nowadays. rad. your id card is on a bodacious tiny future tv. wow! you're really committed to this whole 90's thing, aren't ya? no, i'm just saying what's in the script. that's true. everything we're saying's in the script. when insurance is simple, it's surprisingly painless. >>> hi, i'm richard lui with the hour's top stories. adam schiff expects the whistle-blower at the heart of impeachment proceedings to testify very soon. >>> new york city pol

taylor: that was the peloton ceo john foley.o discuss the company's first day of trading, i am joined by our guests. crystal, let me start with you. down 11% today, what was the biggest concern from investors, why it closed so much lower than where it priced yesterday? >> during the roadshow, it has been a pretty binary story. you other have a bunch of people who believe that pellet gun will change the entire fitness -- ton will change the entire fitness landscape and how people work out and think about workout, or you have people who think it is a business model they cannot sustain, that that has been a story in the investors mind. you either believe it or you don't. that has made for interesting dynamics in the pricing, because you have a bipolar set of feedback from investors, so that is probably why we are seeing that the deal is struggling this morning. and we were seeing the price fluctuate in the morning and at the open at the end of the day closing below. but more of the criticism has been the profitability of the compan

we are joined now by jane foley, rabobank head of fx strategy. if this situation escalates, what does it mean for foreign exchange markets? jane: effectively, it is going to be the yen, the currency of g political risk -- of geopolitical risk. the comments we just heard that there is an understanding, that there isn't really a will to escalate this issue even further, we know that trump is a deals man, not a military hawk. that is why dollar-yen has moved this week, but we are not trading at 1.05. if there was any sniff of a real conflict, the yen would be significantly higher, and it is not. we also have the swissie. that one, of course, the central bank says it is likely to affirm tomorrow's meeting. then of course there is the dollar. the dollar is an interesting one. it is a safe haven for a lot of investors around the world. it is the dominant currency in the global payment. that currency is likely to remain firm if we saw an escalation of tensions. guy: as a result of this attack, would there be extra demand from saudi arabia for dollars? j

we hear from the ceo john foley, who cited disappointment.lus, micron reports, shares fall after hours after gross margin and profit outlook nest estimates. -- ms. estimates. departmentstice launches its own facebook probe as the social network is the focus of a federal trade commission investigation. story,st to our top peloton falling 9.5 percent after raising more than $1 billion in its u.s. ipo. it is the latest unprofitable startup to struggle in its trading debut, but the ceo john foley remains upbeat about peloton's future. he spoke with jason kelly at the nasdaq. >> we are playing the long game. millionsis as building and millions of subscribers around the globe in the coming years. now we have the money to do that. after fully funded today's primary, so we are feeling confident. >> when you think about the last couple of days and weeks, you mentioned the market. it is a tricky ipo market, to say the least. do you have a sense of where the miscalculation was? fundraiser --a eigth fundraiser. there are people who believe, and those who

pablo foley l yes, thank you. as pablo was reporting, president trump declared peace talks with the taliban dead. what does that mean for the people who call afghanistan home? please note be still on -- with no peace still on the horizon, many feel that violence is around the corner. reporter: the aftermath of a suicide bombing that claimed 12 lives and killed a country's hopes for peace. just days earlier, the u.s. lead envoy was in the afghan capital to finalize a breakthrough agreement with the taliban. then, months of talks unravel. pres. trump: they are dead, they are dead. as far as i'm concerned, they are dead. reporter: 50 members of his family were injured in a separate bombing last week. they survived. but like many in afghanistan, they are mourning the peace deal. >> trump said one of his soldiers was guilty or any stopped the peace process, saying he doesn't care aboutut-- soldiers was killed here and he stopped the peace process from saying he doesn't care about the taliban. reporter: victims of the t

indeed foley i need to 1st explain to you what is happening right here behind me just not long ago i would say 2030 minutes ago we saw thousands of peaceful poor protesters here protesting towards the u.s. consulate marching with their families and children people of all ages but since then they have been really replaced by the young radical protests that we have grown so used to seeing what they're doing is so on my right side they're pulling out the bricks from the road on my left side they're smashing a railway station breaking the windows there they say they're doing this because some of the protesters today have been arrested now i can't verify that but they say that is the reason why they are doing this they're also been clashes with riot police at the train station earlier so that very peaceful protests which tens of thousands of people could a march has now changed into what we've been seeing might be what has been might these scenes here of these young radical massed unhelmeted protesters facing off destroying public property and then later on facing off with police so far t

taylor: that was the peloton ceo john foley with bloomberg's jason kelly.nd this week brought pretty of turbulence to wework. co-founder adam neumann stepped down from his ceo role tuesday in a move designed to salvage the company's planned ipo. the co-president and chief financial officer and sebastian gunningham, the vice-chairman, were named co-ceo's. i discussed the executive shakeup brett wallace and gene munster. >> i think the writing was clearly on the wall that this is where the momentum was. my reaction is to think of this in three chapters. there is the past and things that happened that were very good with wework. leadership was not as good. the leadership had a lot of the power that built the company. then there is the present, and i have to applaud everybody involved in how smooth this is going so far. if you look at the clock, it was just a few weeks ago this started, and they already have some replacements, temporary or permanent. adam, the way he stepped aside, was respectable. and so, i credit the company for that. it is different from how

david: that is jason kelly with john foley. now we will turn back to washington, where joseph maguire has spent the morning testifying before the house intelligence committee on the whistleblower complaint against donald trump. ,e now welcome john delaney former congressman from maryland and democratic presidential candidate coming to us from washington. thank you for being with us. i understand you have a peloton. we should mention that. delaney: i do, i like it very much. david: if you look at what is unfolding right now, you are now running for president, what you make of the impeachment investigation? was speaker pelosi correct in launching the investigation? >> i think speaker delight -- i think speaker pull oc has played this perfectly. she resisted some of the calls to start the inquiry. many of them were premature. she waited for something that had the gravity associated with it, which is this call where the president clearly try to get a foreign power to interfere in our election. that is the kind of thing that merits

john foley live >> fresh this morning, the latino impact to the u.s. gdp.orate leaders on a huge business week that's not even over yet former aol c.e.o. steve case will talk about ipos, we work and much more. the fienlt hour of "squawk box" begins right now ♪ ♪ >> announcer: live from the most powerful city in the world, new york this is "squawk box. ♪ ♪ >> good morning and welcome back to "squawk box" here on cnbc live from the nasdaq market site in times square. i'm joe kernen along with becky quick and andrew ross sorkin the futures have actually picked up a little steam, um 80 now on the dow. the nasdaq indicated up 8 1/2. the s&p indicated up about 7 treasuries, the real treasury story was maybe a month ago. we've been stuck around 1 #.7 for a while. it's something to watch if it either heads to 1.5 or back to 2. today going on 1.7 >> big ipo, fitness bicycle maker and treadmill maker peloton making its debut on wall street, ticker pton. it's the top of the original range valuing the company at $8.1 billion joining us first on cnbc is peloton c.e.o. j

listen to john foley talking about peloton's earnings. >> you think that we are losing money.i -- semantics, but i call it investing. we're investing $50 million in a new studio in midtown man hat t.a.r.p., $50 million in london, $100 million in a headquarters here in midtown manhattan where we will have thousands of the best software engineers and marketers and finance folks all in one building. so these are investments, you know? fixed cost leverage, our subscription mar win was going to go well past 70% as we scale the investment. >> reporter: don't you think your investors, now that you are a public company, might demand profits? >> eventually, of course, yes. i mean, i think we're filling in 23, so we, we're going to get there. >> reporter: so we're going to get there, that's what the ceo of peloton says. that day will be 2023 in his words. but i thought it was fascinating he said that earnings are just semantics. sec may disagree with that. instead of bringing the money to the bottom line, instead they're investing in studios to make the very kinds of videos that you're

that's right foley yes i mean officials here are still trying to work out exactly what happened obviously what it's obvious is there has been a large loss of life as you mentioned there in the musicality district this is a taliban stronghold deep in helmand province in the south of the country the country's ministry of defense says it is trying to investigate trying to get to exactly what happened but it is sticking with its original statistics that some 22 foreign fighters it's now calling them fighters were killed in a further 14 captured but it does say that it is investigating there's reports of civilian casualties now what we do know is that there was a combined ground and as strike against these targets some of the reports talk about a double targeting and that the 2nd target that was hit was in fact this wedding party now a number of local officials are saying that in addition to the fighters who were killed and they do except that there were fighters in the area it seems they are saying that there possibly more than 40 people who had been attending this wedding party were the vict

correspondent public foley l.e.o.'s is in washington good to see you pablo these claims from saudi arabia appeared to back up the white house's suspicions that iran was involved in these attacks and now donald trump has announced new sanctions what else happens now from washington's point of view. hi jared well as you mentioned there and as we've heard in the report as well i mean sanctions appears to be the path the president donald trump wants to go down that's not forget that the united states already has significant sanctions against iran so this is just ramping up already what we already have in place against tehran of course president trump earlier when he was speaking was a little bit vague over what was going to happen next it appeared that he wanted to wait and see what came out of the meeting between the secretary of state. in saudi arabia and he said that there would be further news in the coming days and he also basically said that war wasn't an option but at the same time said that the united states. would

didn't we use pablo foley is there for you public 1st of all phyllis in any reaction so far. oh there has been plenty of reaction as you can imagine i'm going to start with the chairman of the house intelligence committee adam schiff he spoke in the last hour he said that it was on contested what president trump has done and has betrayed his oath of office for them to continue the democrats with their inquiry into possible impeachment of president trump he also said that the whistleblower was very eager actually to meet with the house intelligence committee which of course raised a lot of questions over when that could possibly be it could even come as early as this week. we also heard in the last few minutes as well from the speaker of the highs non-si pelosi she said it is not part of president trump's job to use taxpayer money to shakedown other countries for the benefit of his campaign out of the president doesn't know the wife of his words or he does not care about ethics or his constitutional responsibilities very clear they're exactly what the democrats are saying what

with me is jane foley who's a senior foreign exchange strategist at rabobank. are you left—handed ?e will talk about that later. independent frontpage and brexit. i mean, that thing is, there are so many extraordinary moments in british politics that they almost become ordinary but sometimes we have to step back and realise this is a high minister whose first two votes in the commons have been lost. indeed, and that's historic itself. he doesn't have a majority. tory mps lost the whip. he certainly in a very weakened position. this is because the prime minister wanted to go foran because the prime minister wanted to go for an election. but the vote on that has already —— also been

s pablo foley he is at our washington bureau pablo has this hearing established whether president donald trump broke the law by prodding his ukrainian account in part to interfere in the 2020 presidential election and i wish i could give you a straight answer on that but i can't but it depends also on what side whether you're a democrat or republican how you interpret exactly you know this complaints but i'm going to give you just one or 2 things the u.s. director of national intelligence joseph mcguire said he said that if a president pressured a foreign government for help winning an election it would be on warranted unwelcome for the nation but he did not say if it was illegal now what i think we should do really is here actually directly from him because of course are you speaking for our 'd almost 3 hours today in washington i believe that everything you hear in this matter is totally unprecedented and that is why when former directors of national intelligence forwarded them to you whether or not that urge you could sure whether it was serious this was different i mean he's obviousl

later coups and and the favorites asserted their dominance early on was deflected struck from kevin foley and left right felt he could get stranded on 20 minutes and a 2nd soon followed lucas allow rio's long range bell time at the end it was come of the he could hit just helpless once again. on yawns day god he didn't was just the alamar substitute sebastian poulticing bred for this horrid challenge on julian baumgartner and he could have been straight male harvard's on lucky not to convert he 2 goals were nothing how ever as laver couzin fired themselves back into form and handed on your own their 2nd consecutive defeats. like the old us muslims everything we did well in our 1st few games wasn't there from the 1st minute. and we'll have to address that as kids on suspicion. that's a belly coach and take charge which is already under pressure after winless start to the season by hosting an equally with credible and just hire until recently waved his whites a goal up to 10 minutes. was it was a fine individual effort from the dutchman. oh until recently was at it again in the 2nd hot heat

taylor: that was the peloton ceo john foley. with bloomberg's jason kelly.is week brought pretty of turbulence to wework. co-founder adam neumann stepped down from his role on tuesday to salvage the planned ipo. the copresident and chief financial officer and sebastian cunningham, the vice-chairman, were named co-ceos. i discussed the shakeup. >> i think the writing was on the wall. this is where the momentum was. my reaction is to think of this in three chapters. there is the past and things that were very good and things around the leadership that were not good. the leadership had a lot of the power that built the company. then there is the present and i have to applaud everybody involved in how smooth this is going. it was just a few weeks ago this started and they already have some replacements, temporary or permanent. adam, the way he stepped aside, was respectable. so i credit the company for that. it is different from movers -- uber's. then there is the question about the future. to circle back and talk about the timing, i think it is unlikely that an

all right let's discuss where things stand now with pablo foley ileus our washington correspondent a problem where do things stand right now. well and this is a very moving story of the focus today very much is on this continued effort by the democrats to push forward with their impeachment inquiry we heard from the speaker nancy pelosi and she had some very strong statements to make and she was referring to she said there was a sense of urgency in many respects in there they should try and wrap up their investigation by thanksgiving which of course is the end of november and she focused once again we heard it in the report there the cover up of the cover up she also had words to say about the president saying it goes beyond irresponsible but of course of the other side the republicans have been scrambling to 3 to say you know at this point inquiry is baseless and we've also been hearing from many you know members within the republican party and of course president trump who have essentially been trying to this is gratis the people at the center of these allegations now in a not a pu

china chords that are run by the communist party fellow citizens from ordinary lamb had already in foley to clear the culture of those who bill is being dead back in june and on wednesday she made it formal with a televised address. fest the government will fall many with scroll the bill in order to flee and the public consensus. the secretary for security will move a motion according to the rules of procedure when the legislative council recently . said she was fully aware the move would not satisfy everyone and she was right pro-democracy lawmakers responded to her announcement with disbelief. to carry them a confession the so-called confession has come too late but then make a stand. off and we're still in hong kong we should. use some garden hose to put out a fire that's not going to be acceptable. and there were more fires in hong kong over the weekend the city saw heavy clashes between protesters and the authorities during the 13th consecutive week of protests. demonstrators blocked roads and public transport links to the international airport causing gridlock on routes to and from

foley so braman finally get off the mark yannick will they be breathing a sigh of relief after losing the 1st 2 games of the season yeah 100 percent i think the club and the coach for and co thought of a bit of criticism of the style this is not a losing the 1st 2 and it didn't take too kindly to that he didn't really understand it he is young he's 36 or so and it will have to get used to the scrutiny of the german press but i think. with his success comes that scrutiny because oh so impressive last season they just missed out on europe and so everyone is expecting them to make the european places this season and so with that i think they have to step up a notch and yes they got a win against. the strongest team though so they really need to use this is a springboard to kind of make that quest for europe especially as brahmins goal this season is to finish in the european places they'll need goals for that and there's a spectacular goal in this match and i want to look at it becoming up in a 2nd it's from josh sergeant yannick do you think he actually meant to control the ball the way

jason kelly sat down with ceo john foley shortly after its trading debut.ohn: we are playing the long game. we see this as literally building millions and millions of subscribers around the globe in the coming years. now we have the money to do that. we are fully funded after today's primary, so we are feeling confident. jason: when you think about the last couple of days and weeks, you mentioned the markets. i mean, wework is on everybody's mind. it is a tricky ipo market, to say the least. do you have a sense of where the miscalculation was? if there was one? john: i tell you, jason, this is my eighth fundraiser for peloton. people either see it or they don't. there are believers and nonbelievers. those who believe, who have invested in peloton, they have been very, very happy, and they -- and we will continue to delight the capital partners who invest in us. jason: you mention fully funded. what will you do with that money? what does expansion look like? john: we are building a $50 million streaming television studio in new york city, nother in london, w

she joined a quarter of a million people in new york alone who marched from foley square to battery park in downtown new york city. democracy now! was there in the streets. when we come back, we'll hear voices from the marchers as well as part of greta thunberg's speech. stay with us. ♪ [music break] amy: "hungry planet" by the byrds. this is democracy now!, democracynow.org, the war and peace report. i'm amy goodman. as we continue our coverage of frfriday's historic global clime strike where as many as 4 million people marched around the globe. it was the largest protest ever focused on the climate crisis. democracy now! was in the stres s of n yorork iday eakingngo climat strers. i am isabella. i am 12 years old. i am here because i believe age doesn't matter. sure, we can't vote, but we still have a voice. the earth is really messed up. we should have fixed it a while ago. it is not fair. trump is lying. stop denying the earth is dying. >> i get worried about our future because i keep seeing a bunch of post-s or things that say, like by 2030 the world could be at its peak, that we ca

the crowd moved from foley square to battery park in downtown.n the nation. hundreds of strikes around the country from san francisco where there's thousands of people there in downtown protesting. this is a youth-led movement and then you have not just here in the united states, but around the world. over 300,000 people organizers estimate showed up in australia. they are the largest coal producer. they have to cut greenhouse gas emissions right now. there were protests in poland and germany. young people upset that they believe the adults in the situation right now are truly not doing enough to make sure that they have a planet that is safe for them. this is all led by greta thunburg, a 17-year-old that began to skip school every friday to draw attention to the need to enact really -- to help and stop climate change. she is expected to speak here in new york at any moment. shep, back here in new york city, i'll tell you this, new york city schools decided to allow kids to skip school as long as they had parents tall permission to join this prot

kevin foley, j.p.organ's head of high-yield capital markets joining us from the conference on that subject. we are minutes from the market open. next, a look at stocks to watch at the open including richemont, luxury stocks in focus amid reports hong kong's carrie lam will formally withdraw the controversial extradition bill. this is one of the key protesters' demands. the tension over the bill has really dented appetite for all kinds of retail, including the luxury sector and its exposure to this region. this is bloomberg. ♪ matt: good morning. welcome back to "bloomberg markets: the european open." five minutes until trading starts around europe. let's get stocks to watch around the newsroom. looking at richemont, hsbc. what is the luxury watchmaker up to? and otherrichemont names like lvmh and these are luxury names that are exposed to ing kong, and given the news the last half-hour about carrie lam looking to withdraw the extradition bill, these stocks are going to pop. anna: those stocks will pop.

. >> john foley was on squawk, saying we are prioritizing growth over profitability.message worked. maybe it is not about this business model, just the market's tastes have changed. >> it has gotten more disciplined. wework was a big wakeup call i have to say, i have never seen a big deal like that, that the market just rejected, flat out, right up front, saying no at any price. and i think you dig into the economics there, it is way harder to see how the model works than ultimately how this works, which is you back off on marketing, you're doing okay >> do you think there are any reasonable comparables for a company like peloton i ask that, the preipo filing described itself as technology, media, software product, experience, retail, apparel, and logistics company. >> this is vertically integrated, but again, weakness of the home exercise market, you sell a rowing machine or bike, that's it for 10 to 15 years, even if it is unused in the corner, no additional money. if they found a way to actually keep people engaged in their houses, it is much more convenient than a

staying out of my god so i've decided the family doesn't mind and shawn i'm going on here out of the foley on the high school for us as human mistakes for how they let me down. and i saw the and i don't want to have to pay for your hat on how to wear your home stuff from out of my house. you know when you have to have a fit. while on a cell but i'm walkin how dark i don't want to be and all that when i don't want to let. alone. know i'm honest a few i am out of town and also she was john it took a. that house of a so i mean when they got a system 11 o'clock in the one the woman was voted on mom can i will he not. write a half of them record roger. one stockman the hunter was an american mr. rhyme or another. and you want to. tell it how to. record in the kind of way i'm. going to have been waiting here. because you know about him when. i must say i mean i have not studied i like the model on. my limit that's about how much i miss obama nominee. my friend that no more nonny. in this hour of the behave. yourself i wouldn't ever care. less madama nobody about how they're going to. so i want t

if it goes as expected, it will make its co-founder john foley a very rich man.nda: obviously, this was kind of his vision, a lot of romance to this, tom, and yet we're in this atmosphere where the appetite for money-losing seems to be dwindling for investors. is there any conversations inside peloton about reducing the cash burn? tom: absolutely. that is top of investors mind right away. spending $2000 for a bike, $4000 for a treadmill, where is that demand coming from ? peloton is trying to reassure investors that the fitness space is one of the hottest markets out there, and they are making the case, our offering is something that people will happily pay for, and they will point to their 1.4 million subscribers already and say we think we can grow this many times. shery: i find the origin story fascinating. they started with a crowdfunding campaign. tell us about that. tom: back in 2013, the company was set up but they needed more funding to get the bikes they were prototyping into manufacturers. so they went out to prospective said,s on kickstarter and you ca

pablo foley elias in washington. thank you, have a a good weweek.e are their stories making headlines around the world. the british oil tanker seized by iran in the strait of hormuz two months ago has left t the iranin port whehere it wa being dedetained. ththe ship was taken by iran's revolutionary guard, two weeks after an iranian tanker was seized. that ship was released in august. hundreds of south african government employees have protested against violence targeting women and children. the rally followed a call from the president for all members of society to work together to prevent gender-based violence. france paying respects to former president jacques chirac, who died thursday at the age of 86. people havave been comoming to e presidential palace to ponder -- to honor thehe center-right politicianan who dominated frenh politics for decades. his later years were marreded by scandal and corruption conviction. now to a disturbing discovery in nigeria. police in a northern city have rescued hundreds of boys and young men, many of whom were fo